FG releases economic recovery plan

03/08/2017

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This was announced by James Akpandem, spokesman for the Minister of Budget and National Planning, Udoma Udo Udoma via a statement.Minister of Budget and National Planning Senator Udoma Udo Udoma addressing the Management Staff during assumption of Office at Budget And National Planning.

The

The document was released by the Ministry of Budget and National Planning on Tuesday, March 7.

This was announced by James Akpandem, spokesman for the Minister of Budget and National Planning, Udoma Udo Udoma via a statement.

“The plan has been approved by the Federal Executive Council. The core vision of the plan is one of sustained inclusive growth,” Akpandem said.

“There is an urgent need as a nation, to drive structural economic transformation with emphasis on improving both public and private sector efficiency. The aim is to increase national productivity and achieve sustainable diversification of production, to significantly grow the economy and achieve maximum welfare for the citizens, beginning with food and energy security.

“It focuses on privatizing selected public enterprises/assets, and revamping local refineries to reduce petroleum product imports by 60 per cent by 2018. It builds on existing sectorial plan such as the National Industrial Revolution Plan and the Nigeria Integrated Infrastructure Master-plan.

“The plan signals a changing relationship between the public and private sector, based on close partnership. It also utilizes the value of the merger of budget and planning functions into one ministry, to create a better and stronger link between annual budgets and the ERGP,” he added.

The ERGP is available on the ministry’s website and that of the Budget Office.